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Freddie Mac

BUSINESS
July 26, 2012 | By E. Scott Reckard
The typical rate on a 30-year fixed mortgage tumbled below 3.5% for the first time this week, Freddie Mac said -- the latest record low in a trend that has fired up refinancings but done little to ignite housing demand. Freddie Mac's weekly survey of what lenders are offering to rock-solid borrowers showed the 30-year rate at an average of 3.49%, down from 3.53% last week. The 15-year fixed loan fell from 2.83% to 2.8%. Borrowers would have paid 0.7% of the loan amount in lender fees and points to obtain the rates, according to Freddie Mac. The survey underscores the success of the Federal Reserve in pushing down interest rates to support a sputtering economy that shows few signs of inflation.
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BUSINESS
March 21, 2013 | By E. Scott Reckard
Fixed mortgage rates reversed course this week and headed back down, according to Freddie Mac's latest survey , with the average rate for a 30-year fixed-rate loan dropping to 3.54% from 3.63% last week. The 15-year fixed home loan averaged 2.72%, down from 2.79% a week ago, Freddie Mac said. The survey asks mortgage originators what they are offering to solid borrowers who pay less than 1% of the loan amount in upfront lender fees. Paying extra discount points can lower the rate.
BUSINESS
August 24, 2007 | From Times Wire Services
Freddie Mac said Thursday that its huge mortgage holdings grew in July at the fastest pace in 16 months as the company took advantage of a faltering housing market to scoop up cheaper mortgage-backed bonds. In a bid to rescue the ailing housing and mortgage markets, lawmakers are pushing to raise the amount of home loans that can be held by Freddie Mac and its bigger rival Fannie Mae. The two government-sponsored firms are the largest U.S. home loan-funding companies.
BUSINESS
March 28, 2013 | By E. Scott Reckard
Borrowers with solid credit were being offered 30-year fixed home loans at an average 3.57% this week, up from 3.54% a week ago, according to Freddie Mac 's latest survey. The average offering rate for a 15-year mortgage -- a popular option for those refinancing homes -- rose from 2.72% to 2.76%, the home-finance firm said Thursday. The starting rate for loans that are fixed for five years before becoming variable rose to 2.61% from 2.68%, the survey found.  QUIZ: How much do you know about mortgages?
BUSINESS
March 7, 2013 | By E. Scott Reckard
Unlike the rampaging stock market, mortgage rates are in a holding pattern, with lenders offering the 30-year fixed loan this week at an average 3.52%, up from 3.51% last week, Freddie Mac said in its weekly survey. The interest rate on a 15-year fixed loan, a popular choice for borrowers refinancing mortgages, held steady at 2.76%, Freddie said Thursday. Borrowers would have paid 0.7% of the loan amount in upfront fees to the lender. QUIZ: How much do you know about mortgages?
BUSINESS
March 12, 2010 | By E. Scott Reckard
The average interest rate on a 30-year fixed-rate mortgage dropped to 4.95% this week from 4.97% last week, Freddie Mac said Thursday. The mortgage giant's weekly survey asks lenders what rates they were offering -- and the upfront fees they would charge -- for borrowers with good credit and a 20% down payment. Upfront fees averaged 0.7% of the loan amount. The average rate offered on 15-year fixed-rate mortgages, popular as a refinance loan for borrowers wanting to pay off their mortgages faster, was 4.32%.
BUSINESS
August 14, 2013 | By E. Scott Reckard
Fixed mortgage rates held steady this week, according to home finance giant Freddie Mac, with lenders offering the 30-year home loan at an average of 4.4%, the same as last week. The average rate for a 15-year fixed loan was 3.44% compared to 3.43% a week ago, which is statistically unchanged. Start rates on adjustable mortgages were slightly higher, according to McLean, Va.-based Freddie Mac. The 30-year fixed rate hit an all-time low of 3.31% last November. The current higher rate would mean a person borrowing $200,000 now would pay $125 more per month compared with a person who borrowed when the rate was at its lowest, said Frank Nothaft, Freddie Mac's chief economist.
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